US Debt done, Where is Nifty heading in short term

• FIIs bought 5055 contracts of Index Future (bought 11683 long contract and 6628 shorts were added ) worth 155 cores with net Open Interest increasing by 18311 contracts.So even though the US Deb deal done markets used this as an opportunity to correct. Thats why I always say never try to trade as per news.
  

• Nifty opened with lot of optimism after US Deb deal was done, consolidated in range of 6080-6100 and afternoon started the fall. NIfty is now near the crucial channel support, So if 6000 is held on weekly basis we can see a bounce back tomorrow.

• Nifty Future Oct Open Interest Volume is at 1.92 cores with addition  of 0.7 lakhs in Open Interest,with rise in cost of carry, Long liquidation and short addition in market.
  

• Total Future & Option trading volume at  1.41 lakh with total contract traded at 2.5 lakh.PCR (Put to Call Ratio) at 1.05.

• 6200 Nifty CE  is having highest OI at 50.5  lakhs with addition of 6 lakhs in OI will be short term resistance. 6100 CE liquidated 3 lakh, and 6000 seems to be a firm base for time being, will be tested tomorrow. FII’s sold 1.1  K in Call option and 6.9 K shorted CE were covered , so limited upside for Nifty. 5700-6200 CE liquidated 1.17 Lakh in OI.
  

• 6000 PE added 5.8 lakh suggesting  6000 will remain short term support, 6100 PE liquidated 4.1 lakh with net OI at 29lakh so nifty was again unable to sustain above 6100, till the base is not strong difficult to sustain above 6100 . FII’s sold 16.1 K in Put option and 28 K PE were shorted so FII playing for range market and tomorrow we can see a bounce back again..5700-6200 PE added 9.4 lakh in OI.
  

• FIIs bought 1110 cores in Equity ,and DII sold 1149  cores in cash segment.INR closed at 61.22.

• Nifty Futures Trend Deciding level is 6097 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 5982  and BNF Trend Changer Level (Positional Traders) 10247 .How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
  

 

Buy above 6063 Tgt  6090,6111 and 6141(Nifty Spot Levels)

Sell below 6033 Tgt 6015,6000 and 5985 (Nifty Spot Levels)

 

Live Nifty A/D charts  Click on the Link

Traders who use Pivot and Camarilla can use the following 2 sites for Hourly values and EOD values

 http://camarillapivotpoints.blogspot.com/
http://niftystockpivot.blogspot.in/

 

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